Wedbush Has Bearish Forecast for GameStop Q1 Earnings

GameStop Corp. (NYSE:GME - Free Report) - Equities research analysts at Wedbush decreased their Q1 2027 earnings estimates for shares of GameStop in a research note issued on Wednesday, June 11th. Wedbush analyst M. Pachter now expects that the company will earn $0.07 per share for the quarter, down from their prior estimate of $0.09. Wedbush has a "Underperform" rating and a $13.50 price target on the stock. The consensus estimate for GameStop's current full-year earnings is $0.08 per share. Wedbush also issued estimates for GameStop's Q2 2027 earnings at $0.06 EPS, Q3 2027 earnings at $0.06 EPS, Q4 2027 earnings at $0.16 EPS, FY2027 earnings at $0.36 EPS and Q1 2028 earnings at $0.06 EPS.

Separately, Wall Street Zen upgraded shares of GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th.

GameStop Stock Down 23.3%

Shares of GME stock traded down $6.66 during trading hours on Thursday, hitting $21.89. 171,312,174 shares of the company were exchanged, compared to its average volume of 12,586,123. The firm has a market cap of $9.79 billion, a PE ratio of 121.62 and a beta of -0.69. GameStop has a 1 year low of $18.73 and a 1 year high of $35.81. The firm has a fifty day moving average of $28.03 and a 200 day moving average of $27.46.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $732.40 million for the quarter, compared to analysts' expectations of $754.23 million. During the same period last year, the company earned ($0.12) EPS. The firm's revenue for the quarter was down 16.9% compared to the same quarter last year.

Insider Activity at GameStop

In other news, Director Lawrence Cheng acquired 5,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $21.54 per share, for a total transaction of $107,700.00. Following the completion of the purchase, the director now directly owns 83,000 shares of the company's stock, valued at approximately $1,787,820. This trade represents a 6.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alain Attal acquired 10,000 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were purchased at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the purchase, the director now directly owns 572,464 shares of the company's stock, valued at approximately $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 515,000 shares of company stock worth $11,140,200. Company insiders own 12.28% of the company's stock.

Institutional Trading of GameStop

A number of hedge funds have recently made changes to their positions in the stock. Bayforest Capital Ltd grew its position in shares of GameStop by 654.6% during the first quarter. Bayforest Capital Ltd now owns 15,212 shares of the company's stock worth $340,000 after buying an additional 13,196 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of GameStop by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company's stock worth $25,255,000 after buying an additional 94,892 shares in the last quarter. United Services Automobile Association grew its position in shares of GameStop by 4.1% during the first quarter. United Services Automobile Association now owns 26,202 shares of the company's stock worth $569,000 after buying an additional 1,044 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in GameStop by 33.2% in the first quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company's stock worth $5,851,000 after purchasing an additional 65,325 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in GameStop by 312.2% in the first quarter. AQR Capital Management LLC now owns 29,438 shares of the company's stock worth $623,000 after purchasing an additional 22,297 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.